Industry description
The investment seeks a high level of current income.
The fund normally invests at least 80% of assets in debt securities of all types and repurchase agreements for those securities. The Bloomberg U.S. Aggregate Bond Index as a guide in structuring the fund and selecting its investments. It may invest up to 20% of assets in lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds).